BofA Securities
| Company type | Subsidiary |
|---|---|
| Industry | Investment banking |
| Predecessor | Merrill Lynch (corporate and investment banking units) |
| Founded | January 1, 2009 |
| Headquarters | New York City , United States |
Area served | Worldwide |
| Parent | Bank of America |
BofA Securities, Inc., previously known as Bank of America Merrill Lynch (BAML), serves as the investment banking arm of Bank of America. Separate from Merrill, which functions as the firm's brokerage and trading entity, BofA Securities specializes in advisory services for mergers and acquisitions, equity and debt capital markets, lending solutions, trading activities, risk management, research, and managing liquidity and payments. This division was created by integrating Bank of America's corporate and investment banking units with those of Merrill Lynch following the acquisition finalized in January 2009.
History
On January 1, 2009, Bank of America finalized its purchase of Merrill Lynch & Co. By September of that year, the combined corporate and investment banking operations were rebranded as Bank of America Merrill Lynch. In April 2011, these services were unified into a single division to enhance operational efficiency.
In October 2013, BofA Merrill Lynch earned the title of Most Innovative Investment Bank of the Year at The Banker Investment Banking Awards, underscoring its market leadership and innovative edge.
The investment banking division underwent a rebranding to "BofA Securities" in February 2019 to better reflect its strategic direction and international scope.
Operations
The structure of Bank of America Merrill Lynch is divided into four regional sectors:
- Asia Pacific – Based at the Cheung Kong Center in Hong Kong
- Europe, Middle East & Africa – Located at the Bank of America Merrill Lynch Financial Centre in London
- Latin America and U.S. & Canada – Headquartered at the Bank of America Tower in New York City (also serving as the global headquarters). Additionally, it holds a major office at the Bank of America Tower in Jacksonville
In 2010, Bank of America Merrill Lynch was ranked second worldwide in investment banking revenue, securing a 6.8% share of the market. That year, it led globally in revenues from leveraged loans and asset-backed securities. The following year, 2011, it retained its position as the second-largest revenue-generating investment bank internationally (trailing only J.P. Morgan & Co.), while increasing its global market share to 7.4%.
External links
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